I was at Richton Perk yesterday, as usual, and Pete the owner was reading from a newspaper quotes from Jefferson about the bankers. I realized, not for the first time that I seem to write my articles two or three years too soon. So I am posting again my three articles on the reasons we are in a financial mess.. Maybe 2010 is more receptive than 2008 to what seems to be the obvious truth of the matter.
As allopathic physicians usually focus on the symptoms rather than the cause so the general public and its representatives seem to look at problems and band-aids for them rather than to seek the underlying cause.
This country is in the midst of an economic catastrophe. It has been obviously so for everyone in the middle class for some years. Anyone who does grocery shopping for a family has known it for years. People who have to choose between getting their medication and getting food have known it for years. Workers laid off while people overseas do their jobs for cents an hour have known it for years. Some 80% of jobs here are in the service sector, ill paid and without benefits. Meanwhile, the CEO’s get benefits in the millions of dollars based on their skill in putting their own workers out of work.
There are many views on what is going on. Everyone at least has to agree that the rich are getting richer and the poor are getting poorer. But while the debate goes on about exactly which words to use, things get worse. Rather like the well fed and well paid diplomats in air conditioned offices arguing about the exact meaning of some phrase or other while people are being killed every minute as their argument about phrasing goes on.
Those who read this site regularly know that I tend to do the great no-no of the politicians. I look back into the history of a problem, the cause, not at the current effects, the symptoms. This is how I found out the basis of the lies fed to the public about fluoride, hemp, laetrile, aspartame, vaccines, as a health writer, and much else when investigating religious dogmas. Here are my personal views on how the current desperate state of affairs came about. Knowing the cause it is easier to come up with an answer. And of course it depends on history, the subject deplored by most people as dull.
Let’s start with the connection between the American Revolution and Karl Marx who came many years later. Karl may have been many things that the politicians deplore, but he wasn’t an idiot, like many of the current crop here. He saw how things worked in reality, in his century. And he said this in the Communist Manifesto, when talking about how to get control of a country, one of the most important things to achieve was: “centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.” This lesson was taken to heart by all future despots, including ours.
He was an avid student of history and knew this power principle from the example of the Bank of England. This started in 1694 when King William III needed help funding the war with France. The king needed something that could provide him with all the money he needed and manage the debts that always occur when wars are fought. The answer to his need was the founding of the Bank of England.
It was the world’s first central bank, that was privately owned in a powerful country. It was called the Bank of England to keep the public from realizing that it was privately owned and was not a government institution. It was the model used in the formation of our own privately owned central bank, The Federal Reserve, named Federal for the same reasons. Most of the other central banks are privately owned and use the Bank of England as their model.
Enter some people you all know. The Founding Fathers were pretty smart cookies, and they knew that the reason the British Parliament levied unfair taxes on the American colonies, and the English citizens at home incidentally, was because the Bank of England had put the government in so much debt by loaning it money at interest, that Parliament was in desperate need of revenue to reduce the debt. So they did what governments always do, they taxed those not rich enough to avoid taxes.
Benjamin Franklin, another very smart cookie who had been a diplomat in Europe, believed that the chicanery of the Bank of England was the real cause of the American Revolution. The Founding Fathers wanted to avoid the same problems that would definitely occur in America if the bankers got too much power.
Thomas Jefferson said:
"I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. The issuing power should be taken from the banks and restored to the people to whom it properly belongs."
Jefferson and Madison tried to add two amendments to the Constitution that would prevent the formation of monopolies, whose dangers they clearly foresaw. Their amendment wanted "freedom from monopolies in commerce" (what are now giant corporations including international banks and Wall Street investment firms) and "freedom from a permanent military," or standing armies.
If they had been successful this country might now be ruled by the people for the people, instead of by the corporations for the corporations, as is obviously the case now. And there would not be the Pentagon monster draining over half the wealth of the country for the benefit of scum like the Halliburtons and Blackhawks. The Founding Fathers foresaw the possibilities. They had seen them at work in Europe. They bothered to LEARN FROM HISTORY.
When I first came to this country in 1970 I soon realized that if I wanted to understand anything that was going on I had better learn what historians said about the Civil War, the War between the States as they say down South, a name I prefer. Of course I did not read any school texts, they are always the propaganda tools of the current establishment. This I experienced when I was in France and read French elementary school histories about the same incidents I knew about from English elementary school books. What an eye opener that was.
After reading some fifty books or so, including many from Southern university libraries I came to the conclusion that the Civil War, like so many other recent wars was based on the greed of bankers and industrialists whose money bought and paid for the ‘news’ that aroused the public sufficiently to allow their children to be killed to accomplish the financial goals of the big money people, in this case control of the Cotton industry of the South.
One such insight came from reading the beautifully literate and eloquent speeches and letters of Abraham Lincoln. Here is what he said that gave me the needed clue, and I quote,
"The money powers prey upon the nation in times of peace and conspire against it in times of adversity. It is more despotic than a monarch, more insolent than autocracy and more selfish than a bureaucracy. It denounces, as public enemies, all who question its methods or throw light upon its crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at the rear is my greatest foe."
The bankers, who were charging the government interest of 24% or more for financing the War between the States were more dangerous to Lincoln than the Armies of the South. Dissenters were dealt with as they are today…accused of being unpatriotic by vitriolic attacks from news media, bought and paid for by the big money.
So what did Lincoln do? Jefferson and Madison had tried to amend the Constitution to prevent the danger they so clearly foresaw. The amazingly courageous Lincoln managed to get the Congress to pass the Legal Tender Act in 1862 that empowered the US Treasury to issue paper money called "greenbacks."
This is the power that the Constitution had originally given exclusively to Congress. Lincoln had refused to pay the bankers their enormous interest rates and needed the new law to be able to print up the money he needed (called greenbacks) to fund the war with the South. This new money of course was debt and interest free. The bankers didn’t like this because they needed to create and control interest bearing financial transactions.
Right after the war Lincoln was assassinated and very shortly thereafter the Greenback law was rescinded, a new national banking act was passed, and all money became interest bearing again. Just note that a prominent and capable President of the United States was assassinated shortly after trying to curb the debt producing powers of the bankers. It isn’t the last time this coincidence occurred. But it isn't stressed in history books, and in case I'm being too subtle, I'm referring to Kennedy.
Those of you interested in history might also like to see the problems that President Jackson had with the bankers when he had to veto the bill that empowered the Second Charter Bank Bill in 1832. Like the smart people already mentioned he pointed out in his veto explanation that to pass the bill would immediately benefit many very rich shareholders and that the bill also claimed a monopoly over the financial arrangements of the government. Jackson was in favour of gold and silver, not what he called ‘rag money’ without any real backing.
Biddle, who ran the bank owned many members of Congress because of his financial resources, and their greed or stupidity Jackson won that battle temporarily but the war was won by the bankers later on as we shall see. They never rest.
You are probably familiar with the name Rothschild as a synonym for enormous wealth. It was a Rothschild who loaned the British Government the money to buy the Suez Canal during the reign of Queen Victoria. It didn’t hurt that the Prime Minister at the time was Jewish. A common religious belief gave Disraeli an edge over any Protestant minister.
Well, Baron M.A. Rothschild said: "Give me control over a nation's currency and I care not who makes its laws." That sentence explains the battle that has gone on ever since this country was founded because of the taxation brought about by the financial chicanery of a national, central, privately owned bank in another country, that put the government of that country deep into debt. The opportunity to do the same with a bank in this country was eagerly sought and diligently pursued without ceasing, by the owners of banks here and those who controlled great industries here and abroad.
In part two I’ll go into how they succeeded and how our own central bank was created to benefit the extremely rich at the expense of everyone else. It too was disguised as a government institution by the name Federal Reserve. It, like the Bank of England is privately owned, has no elected members, has taken from the government its right to be the producer of the money of the country, and lends its worthless money to the government for every action it takes, at interest, that you and I and other tax-payers give them for their chicanery.
The paper money it prints at will has no backing. It is what Jackson said, “rag money” I call it fictitious money, others call it fiat money.. It is the betrayal of the people in this country by their elected Congress that allowed this to occur AND continue to occur. More history next time.